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Removing a credit card.

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adam68
adam68 Posts: 22 Forumite
in Credit cards
Hi chaps,

I have a few credit cards ,

Barclay's with 7.5k
Halifax with 2.5k
Band of Scotland with 6k

I keep getting into debt on the Barclay's (only one I have the pin for) so I think its best to just close the card.

Do you think this is a good step, won't hinder a future mortgage application etc?

Comments

  • jonesMUFCforever
    jonesMUFCforever Posts: 28,898 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    Are those limits or total debts you are quoting?
  • grumbler
    grumbler Posts: 58,629 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    edited 8 November 2014 at 8:58PM
    adam68 wrote: »
    I keep getting into debt on the Barclay's (only one I have the pin for) so I think its best to just close the card.
    Barclays, not Barclay's

    Freeze it in a block of ice.
    Unfreeze once a month to make a small purchase, then freeze again.
    Pay the balance in full by a DD.
  • adam68
    adam68 Posts: 22 Forumite
    They are the limits, not the debt.
  • enthusiasticsaver
    enthusiasticsaver Posts: 16,062 Ambassador
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    It wont hurt your credit record to have just one credit card. Get rid of two and just use the one remaining for large purchases to get the extra insurance benefit. Pay it off immediately so you don't pay interest.
    I’m a Forum Ambassador and I support the Forum Team on the Debt free Wannabe, Budgeting and Banking and Savings and Investment boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.

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  • diceydeb
    diceydeb Posts: 158 Forumite
    Part of the Furniture Photogenic Combo Breaker
    Doesnt having unused credit affect you getting credit elsewhere.
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